Common use of Ownership and Location of Collateral Clause in Contracts

Ownership and Location of Collateral. (a) With respect to the Collateral, at the time the Collateral becomes subject to Agent’s security interest: (i) each Domestic Loan Party shall be the sole owner of and fully authorized and able to sell, transfer, pledge and/or grant a first priority security interest in each and every item of its respective Collateral to Agent; and, except for Permitted Encumbrances the Collateral shall be free and clear of all Liens whatsoever; (ii) each document and agreement executed by each Domestic Loan Party or delivered to Agent or any Lender in connection with this Agreement shall be true and correct in all respects; (iii) all signatures and endorsements of each Domestic Loan Party that appear on such documents and agreements shall be genuine and each Domestic Loan Party shall have full capacity to execute same; and (iv) each Domestic Loan Party’s equipment and Inventory shall be located as set forth on Schedule 4.4 and shall not be removed from such location(s) without the prior written consent of Agent except with respect to the sale of Inventory in the Ordinary Course of Business and equipment to the extent permitted in Section 7.1(b) hereof, or solely with respect to the Aircraft Collateral, to the extent permitted in Section 7.18 hereof.

Ownership and Location of Collateral. (a) With respect to the Collateral, at the time the Collateral becomes subject to Agent’s security interest: (i) each Domestic Loan Party shall be the sole owner of and fully authorized and able to sell, transfer, pledge and/or grant a first priority security interest in each and every item of its respective Collateral to Agent; and, except for Permitted Encumbrances Liens, the Collateral shall be free and clear of all Liens whatsoever; (ii) each document and agreement executed by each Domestic Loan Party or delivered to Agent or any Lender in connection with this Agreement shall be true and correct in all respects; (iii) all signatures and endorsements of each Domestic Loan Party that appear on such documents and agreements shall be genuine and each Domestic Loan Party shall have full capacity to execute same; and (iv) each Domestic Loan PartyBorrower’s equipment and Inventory shall be located as set forth on Schedule 4.4 and shall not be removed from such location(s) without the prior written consent of Agent except with respect to the sale of Inventory in the Ordinary Course of Business and equipment to the extent permitted in Section 7.1(b) 7.4 hereof, or solely with respect to the Aircraft Collateral, to the extent permitted in Section 7.18 hereof.. 50

Ownership and Location of Collateral. (a) With respect to the Collateral, at the time the Collateral becomes subject to Agent’s security interest: (i) each Domestic Loan Party shall be the sole owner of and fully authorized and able to sell, transfer, pledge and/or grant a first priority security interest in each and every item of its respective Collateral to Agent; and, except for Permitted Encumbrances the Collateral shall be free and clear of all Liens whatsoever; (ii) each document and agreement executed by each Domestic Loan Party or delivered to Agent or any Lender in connection with this Agreement shall be true and correct in all respects; and (iii) all signatures and endorsements of each Domestic Loan Party that appear on such documents and agreements shall be genuine and each Domestic Loan Party shall have full capacity to execute same; same and (iv) each Domestic Loan Party’s equipment and Inventory shall be located as set forth on Schedule 4.4 and shall not be removed from such location(s) without the prior written consent of Agent except with respect to the sale of Inventory in the Ordinary Course of Business and equipment to the extent permitted in Section 7.1(b) hereof, or solely with respect to the Aircraft Collateral, to the extent permitted in Section 7.18 hereof).

Ownership and Location of Collateral. (a) With respect to the Collateral, at the time the Collateral becomes subject to Agent’s security interest: (i) each Domestic Loan Party shall be the sole owner of and fully authorized and able to sell, transfer, pledge and/or grant a first priority security interest in each and every item of its respective Collateral to Agent; and, except for Permitted Encumbrances the Collateral shall be free and clear of all Liens whatsoever; (ii) each document and agreement executed by each Domestic Loan Party or delivered to Agent or any Lender in connection with this Agreement shall be true and correct in all respects; (iii) all signatures and endorsements of each Domestic Loan Party that appear on such documents and agreements shall be genuine and each Domestic Loan Party shall have full capacity to execute same; and (iv) each Domestic Loan Party’s equipment and Inventory shall be located as set forth on Schedule 4.4 and or as permitted under Section 4.4(b)and shall not be removed from such location(s) without the prior written consent of Agent except with respect to the sale of Inventory in the Ordinary Course of Business and equipment to the extent permitted in Section 7.1(b) hereof, or solely with respect to the Aircraft Collateral, to the extent permitted in Section 7.18 hereof.